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looked so much better in comparison. for mr. obama, unemployment peaked in 2009 at 10%, now three e years later it's 7.8%. for both presidents, unemployment generally trended down all the way to election day. as you might expect, president obama and governor romney saw these numbers quite differently and we have two reports tonight. first, nancy cordes covering the president and she's in cleveland. nancy? >> reporter: scott, you could practically see the relief on the president's face today and not just because this news helped to change the subject from his shaky debate performance. high unemployment has been an albatross around his neck the past four years. today he mentioned the drop not once but twice starting at virginia. >> this morning we found out that the unemployment rate has fallen to its lowest level since i took office. (cheers and applause) more americans entered the work force, more people are getting jobs. >> reporter: around steady rain in cleveland where president obama shared a coat with the supporter who introduced him, he made it clear to a crowd of 9,000 that he unde
obama. the unemployment rate for september falling to 7.8%, the first time the jobless rate has been below 8% since january of '09 when president obama took office. now the big question is, will this change the narrative of the presidential campaign that was against the president after the debate? this morning we're seeing both campaigns end candidates energized, although for very different reasons. president obama was first trying to shake off his lackluster debate performance. mitt romney trying to capitalize on his new momentum. and he's got a new response to that video where he talked about the 47% going beyond what his line has been that he spoke inelegantly. >> well, clearly in a campaign with hundreds, if not thousands of sechs and question and answer sessions, now and again you're going to say something that doesn't come out right. in this case i said something that's completely wrong. i absolutely believe, however, that my life has shown that i care about 100% and that's been demonstrated throughout my life and this whole campaign is about the 100%. when i become president,
election day, unemployment below 8% for the first time in the obama era, mitt romney called it too little, too late and too high since so many have stopped looking for work. >> the truth is if the same share of people participating in the work force today as the day the president got elected our unemployment rate to be around 11%. >> romney's plan says it will create new jobs, instead of part-time, helping to get it under 8% before the election. i'll help create 12 million new jobs and rising take home pay. >> romney's debate performance intersecting polls, and rasmussen shows romney inching ahead in virginia and ohio albeit within the margin of error and the daily tracking poll has the president up 5 points. romney met privately with laid off miners and blasted the president for waging war with workers, and romney that's an is crucial section of energy independence. >> i think we should put the americans back to work and it's energy abundant and cheap and burned in a clean way. >> and romney with fireworks and country car trace adkins that the president's trillion dollar stimulus would g
unemployment rate to be around 11%. >> bret: president obama and mitt romney reacting to this, the unemployment rate for september dropping from 8.1 to 7.8%, it was a big drop, that caught a lot of of people by surprise this morning. 114,000 jobs added according to the bureau of labor statistics. inside those numbers though, part-time work, and also the underemployment number stayed the same at 14.7%. you can take a look at the chart for all of unemployment numbers since president obama has taken office and there you see kind of the track. and we are september 12 there at the end. and headed in the right direction if you're president obama's campaign politically, but what about inside the numbers economically. let's bring in our panel, steve hays weekly standard. charles lane, washington post and syndicated columnist, charles krauthammer. charles? >> well, the numbers are tricky because when you get a drop in the rate and then you get this anemic job-- anemic increase in the numbers of jobs, they contradict each other. the reason that you can these contradictions, each of them comes from a comp
unemployment has surprised most analysts. both barack obama and mitt romney were quick to seize on the numbers. here is our north america editor. >> snow in downtown denver slow down the rush hour, that millions of americans have no need form morning haste -- no need for morning haze. how to create more jobs has been central for this election. unemployment rose after barack obama became president, peaking at just over 10%. today's figure is the first time it has been under 8% for 44 months. >> this morning, we found out that the unemployment rate has fallen to its lowest level since i took office. [applause] >> the good news comes at the end of a bad week for the president where he was widely derided for a lackluster debate performance. now some feel he is back. >> we have made to much progress to return to the policies that led to the crisis in the first place. i cannot allow that to happen. i will not allow that to happen. that is why i am running for a second term as president of the united states. >> blaming unemployment on the president has been central to the case of republicans. >> unde
's unemployment rate delivered president obama a pre-election gift. this is the first time it has been below 8% during his presidency. >> we know there is still that willingness for all of us to see that more people are put but to work. in this particular report, i am happy to see that we have continued growth. >> employers added 114,000 jobs in september. the numbers shocked analysts, who predicted the jobless rate would stay around 8% and possibly grow. >> this is a big report. >> president obama called the report proved that the economy is improving under his policies. >> we have made too much product progress to return to the policies that led to the crisis in the first place. >> mitt romney launched a tv ad that the recovery is too slow. even economists seem hesitant, pointing of the the number of new jobs created each month has been decreasing since july. this report a positive sign for a still fragile of economy. one downside to the report, many of the jobs created were part- time jobs, not full-time jobs. >> thank you, daniel. baltimore county police are now investigating a house fire
as there were when president obama took office, the unemployment rate would be near 11 percent and he is right on that. >>guest: he is generally right. that was not a feature in the latest report that participation rate ticked up a little bit. absolutely, overtime, this is a long-term change in the economy. there are fewer people in the workforce. it is unclear where that is going to go. it is not realistic to think everyone who had a job best recession will have a job after the recession. a lot of the jobs are gone. that reflects major change happening in the machinery of the economy. that will take a long-term to lay out. >>trace: thank you, rick, good to see you. the deadly attacks in libya exposing aist between the obama administration and high ranking intelligence officials. what we are leng -- learning about the internal debate that followed the murder of four americans. and a recall of potentially contaminated drug expands, the latest meningitis cases are ahead. i'm only in my 60's... i've got a nice long life ahead. big plans. so when i found out medicare doesn't pay all my medical exp
's debate. president obama responds to new unemployment numbers that dropped to 7.8%. the lowest in four years since president obama took office. >> this is a choice not just between two candidates or two parties, but a choice between two fundamentally different visions for america. and today, i believe that as a nation, we are moving forward again. [ applause ] we're moving forward. cheer [ cheering and applause ] now after losing about 800,000 jobs a month within i took office -- when i took office, our businesses have now added 5.2 million new jobs over the past two and a half years. [ cheering and applause ] >> reporter: now before the debate, the president had a very slight lead over his opponent in the commonwealth. the battleground state of virginia. the question is, can he maintain that slight edge between now and november? back to you j. c.. >> thank you surae. >>> well, bedbugs are causing headaches for students at the university of maryland. the pests are spreading through parts of building 7 at the south campus commons dormitories. the company that manages the dormitories say
, and unemployment below 8% for the first time in the obama era, obama called it too little, too late because so many stoppedded looking for work. >> the truth is, if the same number of people were participating in the work force today as when the president was elected, unemployment would be 11%. >> romney says his plan creates long term jobs rather than part time work to get the unemployment under 8%, 32 days before the election. >> i will help create 12 million new jobs and rising take home pay. romney's debate performance is rising in polls inches ahead in ohio and virginia be it within the poll's margin of era. the tracking poll has the president up five points. in virginia, he met with miners blasting the president for waging war on the coal industry and the workers. >> i believe we should take advantage of it, put workers back to work, and use the resource that's abun adapt, cheap, and to be burned in a clean way. >> riding high, romney reminded a rally last night with fireworks and trace adkins that the president promised his stimulus gets unemployment lower than it is. >> he said right now, w
down under 8%. is it great? no. if you ask president obama on the day he took office, hey, unemployment is going to be 7.8% the month before you have the secret election is that good, bad, or ugly? he would say that's ugly. but it's all context and perception. in my opinion if the trend line looks like it is moving downward obama can now say the trend line is moving downward. it at least allows him to make the argument things aren't perfect. i know that. not everything i did worked. but they're slowly but surely getting better. this helps that argument. >> karen, interesting though about the impact. remember you have the democratic convention as good as it got. friday the jobs report comes out. and it's a bad jobs report. >> that's right. >> and it stopped the momentum not at all. >> right. >> but in fairness romney helped with that. he had his own gaffes. >> here you have, you know, romney, everything is moving in the right direction. great debate. the president. the democrats. like hammering, you said they're stopping you as you're going. what is wrong with the president? >> hey. >> i
." >> yay! >>> the unemployment rate dropped below 8% for the first time in the obama presidency hitting 7.8% for september. but the raw job gains are tepid. will the below 8% news do much to change the economic perceptions of undecided voters in the final weeks before the election? meanwhile a shifted swagger as mitt romney waits to see if his numbers swing up after a decisive debate. he certainly has a spring in his step out on the campaign trail. on the whole 47% comment that never came up at the debate romney says he was wrong. as for the president, he put some mileage between himself and the mile high city with much more fiery talk than anything we heard from him at the actual debate. but is the president's tough talk too little too late? good morning from washington. it's friday, october 5th, 2012. this is "the daily rundown." i'm chuck todd. we'll have much more on the new jobs numbers in minutes with economist mark zandi, texas senator kay bailey hutchison is here, and an exclusive this morning senior adviser to the president david plouffe. but first right to my first reads of the
, that is a surprise because economists were expecting unemployment to pick up. president obama and mitt romney will both be campaigning in virginia this morning, the obama campaign took a hit with his debate performance this weeks this will give him something to crow about today. the romney campaign, mitt romney issued a statement saying this is not what a real recovery looks like. he goes on the say, the real unemployment rate is closer to 11% if you count the people who stopped looking for work. there is also a lot of speculation on line on social media this morning, that the obama administration could be fudging the numbers. we took that question right to the secretary of labor this morning. she tells us it's ludicrous to say the numbers could be manipulated. >>> secret service has new policies in place after one of the most embarrassing scandals in the history. it would ban excessive drinking and the share of work related information on sites including facebook. this comes five months after more than a dozen employees of the secret service were accused of drunken partying with prostitutes
am steve chenevey. >> i am cynne simpson. we begin with good news for the country and president obama. the u.s. unemployment rate has fallen below 8% for the first time in nearly a full your years. >> employers added 114th thousand jobs since september. jobless rate fell to 7.8% last month and wages rose. the department also revised the numbers for july and august saying the economy at its 86,000 more jobs than first estimated. >> the jobs report is a big topic on the campaign trail. republican candidate mitt romney campaigning in battleground virginia. looks like they're getting ready to announce that he will be speaking soon at carter machinery in abingdon. president obama in virginia as well. >> scott thuman joins us from george mason university. seems like a more confident president obama than we saw during the debate scott. we would check back with him in a couple minutes. the president speaking after 11:00 this morning in virginia at george mason in fairfax. we will have a live report. >> a with abc 7, your election station. continuing coverage of the election and the latest inf
is cooking? >> 7.8% unemployment. is this magic number of president obama for real or was it cooked? good evening, i'm larry kudlow. this is "the kudlow report." team obama doing a victory lap, rejoicing over the 7.8% victory lap. my guest, jack welch, is questioning whether the numbers were cooked to help president obama. mr. welch will respond live and talk to me in a moment. this whole thing comes as the romney roll continues. scott rasmussen has three polls showing a dead heat in battle ground states, hai, virginia, florida. even the liberal magazine "the new yorker" sees it on their front cover, mitt romney pulling a clint eastwood, debating an empty chair. first up, it was the tweet that was heard around the world. my good friend jack welch set off a social media firestorm. take a look at his tweet. "unbelievable jobs numbers. these chicago guys will do anything. can't debate so change numbers, end quote. he's chase by accusing the white house of skewing the data to help president obama. earlier on cnbc, u.s. labor secretary fired back with this response. please take a listen. >> th
the numbers mean. >> reporter: the unemployment rate delivered president obama a preelection gift. the number of people without jobs fell to 7.8%, marking the first time it's been below 8% during obama's presidency. >> there's still that willingness for all of us to see that more people are put back to work, but in this particular report, i'm happy to see we see a continued growth. >> reporter: employers added 114,000 jobs in september and 86,000 jobs that hadn't been accounted for in july and august. the numbers shocked analysts who predicted the rate would stay around 8% and possibly grow. >> this is a big report. >> reporter: presint obama called the september report proof the economy is improving under his policies. >> we made too much progress to return to the policies that led to the crisis in the first place. i can't allow that to happen. >> reporter: mitt romney continued his argument in tv ads launching today that the recovery is too slow. >> i have a plan to create 12 million new jobs. >> reporter: they pointed out the new numbers of jobs created has been decreasing since july. >> t
goovment good to see you tonight. president obama says unemployment is at the lowest level since he took office. governor romney says this is not what a real recovery looks like. both candidates starting their rallies in the battleground state of virginia. we showed you moments ago mr. romney is in the state of florida at this hour speaking at a rally there they each have a very different take on today's jobs report. >> we can do better. we don't have to stay on the path we have been on. we can do better. there was a report that just came out this morning on job creation this last month. there were fewer new jobs created this month than last month. >> but today's news certainly is not an excuse to try to talk down the economy to score a few political points. it's a reminder that this country has come too far to turn back now. >> harris: then the president went on with his familiar slogan saying governor romney supports the same policies that led to the financial crisis. the governor says he has a plan to create millions of jobs. campaign carl cammeron live in st. petersburg, florida. car
, president obama saying it is a very, very good sign. >> this morning, we found out that the unemployment rate has fallen to its lowest level since i took office. >> the old rate, 8.1%. the new number, 7.8%. that's the best since barack obama took office and it's certainly positive news for his re-election hopes because no president has been re-elected with an unemployment rate above 8% since roosevelt in the 1830s. erin herself has made this point many times. >> the unemployment rate may be high, but the the absolute number is not what matters when it comes to getting re-elected. that's about to trend. every president running since world war ii has won when the rate was falling and lost when it was going up. best example, get ready. >> it's morning again in america. today, more men and women will go to work than ever before in our country's history. with interest rates at about half the record highs of 1980. >> yeah, you know what ad was for. that was ronald reagan, who won the election with a rate of 7.4%. so, the question is, can mr. obama win one like the giper or is the number still
. september's unemployment rate fell from 8.1% down to 7.8%. it hasn't been this low since president obama was inaugurated. and out there on the campaign trail today he's taking full credit for the change. let's bring in our chief white house correspondent jessica yellin. she's getting reaction from the white house, from the campaign. the president's pretty happy about these numbers, isn't he? >> yes, wolf. but for the white house and the president, it's a balancing act. for the president, he's trying not to suggest that we're out of the woods yet, but he is using the numbers to support the case he's been making on the trail that his policies have been good for the economy. and in the words of his campaign slogan, are helping move the nation forward. >> after losing about 800,000 jobs a month when i took office, our businesses have now added 5.2 million new jobs over the past two and a half years. this morning we found out that the unemployment rate has >> campaigning in virginia coal country, mitt romney tried to dig through the latest jobs numbers to make the case president obama has not
obama an edge? i mean, how important is this unemployment report for the election? >> well, today's jobs numbers were friendly to the president. i mean, it does show that the economy is definitively improving. we've made a lot of progress. when you add it all up, we've created 4.5, 5 million jobs since job growth resumed just not quite three years ago. we are clearly moving in the right direction, and i do think voters when they think about who to vote for, they have had to come up with a trend line and think about where we're headed and i think these kind of numbers will, indeed, help the president. >> susie: you know, we're all so fixated on this unemployment number, and yet a number of people, whether they're economists or market strategists have been saying it's misguided to focus on this unemployment rate. what we should be really looking at is the fiscal cliff issue. what do you think are the chances of getting some resolution on the fiscal cliff, get something kind of deal on that? >> well, you know not before the election. i'm skeptical we actually get it done in the lame duck. t
we find among voters widely expected to support president obama, the unemployment numbers are far more bleak. molly henneberg live in washington with a look at that. >> reporter: specifically african-american, hispanic voters strongly behind the president four years ago, struggling now in this economy. in most cases unemployment rates higher than they were four years ago. going back to the 2008 election african-americans voted 95% for then senator obama. hispanic were behind him, 67%. these are two groups the president is counting on again in this election. but those two groups also have been hit hard in the economy. remember, as jon just showed us, the overall unemployment rate for september is 7.8%. if you look at numbers by demographics, for african-americans the september unemployment rate is 13.4%. even higher for african-american men, 14.2%. it is 10.9% for women. for hispanics the overall unemployment rate in september is 9.9%. a bit better for men, 7.6%, but worse for hispanic women, 9.8%. even though african-americans and his pan anybodies are doing worse in the economy t
mitt romney has hammered president obama about job growth. elect me, i can turn the economy around. but today the rationale for his entire campaign is crumbling. the new job numbers are out and unemployment has dropped to 7.8%. under 8% for the first time since president obama first came into office. that's progress on jobs and that's good for america. but it's absolutely demolishes a favorite romney talking point. >> three years later, unemployment is still above 8%. >> we've gone 41 months with unemployment above 8%. >> we've had 42 straight months with unemployment above 8%. >> still 8% with over 43 straight months. >> today, that talking point disintegrated and president obama has a strong record to campaign on. >> this morning we found out that the unemployment rate has fallen to the lowest level since i took office. but today's news certainly is not an excuse to try to talk down the economy to score a few political points. it's a reminder that this country has come too far to turn back now. >> now, governor romney issued a statement today saying, quote, this is not what a rea
and president obama has a strong record to campaign on. >> this morning we found out that the unemployment rate has fallen to the lowest level since i took office. but today's news certainly is not an excuse to try to talk down the economy to score a few political points. it's a reminder that this country has come too far to turn back now. >> now, governor romney issued a statement today saying, quote, this is not what a real recovery looks like. really? that's what he has to say? well, here's my statement. what is the reason for mitt romney's campaign? the unemployment rate is at its lowest level in nearly four years. that's not a real recovery? when president obama took office, we were bleeding private sector jobs. now we've added them for 30 straight months. that's more than 4 1/2 million jobs. mitt romney is just dancing as fast as he can to deny the truth. well, keep on dancing. denying the truth is just the new normal for this right wing nut gop. the president's birth certificate not real. poll numbers that show the president ahead, not real. and today these geniuses came up with a new fa
city which was full of quests on holiday. >>> in election news this morning, president obama and mitt romney continue to target swing states today as the latest unemployment figures are set to be released in about an hour. president obama will visit virginia, then ohio. democrats are regrouping following wednesday's disappointing debate. president obama accused republican challenger of mitt romney of being dishonest. >>> mitt romney will also be campaigning in virginia today. he's holding a coal country rally just days after accusing the obama administration of crushing the coal industry. meantime romney is clarifying his controversial 47% comments. now he says he was completely wrong when he said half of americans are victims independent on the government. now both mitt romney and president obama will be keeping a close eye on the jobless report which is due to be released in about an hour from now. 115,000 jobs were added. they say that will increase the unemployment rate to 8.2%. now that some discouraging job seekers are returning to look for jobs. >>> the film that di pickets the
that obama has hired baghdad bob to calculate the unemployment rate. anyone who take this is unemployment report serious is either naive or a paid obama campaign adviser. and, of course, they're looking at the 7.8% unemployment figure and saying that can't possibly be right. >> oh, let me explain how this works. we explain this every month, actually. there are two surveys. a survey of households and a survey of companies and sometimes they show slightly different results, right? they are surveying two completely different groups, one of people who are getting a job and one people who are giving a job and not necessarily the same people in those same surveys all the time. here is something i want to point out to these people who are talking about baghdad bob at the bureau of labor statistics. where were they the day after the president's speech in charlotte when all the enthusiasm after his dnc speech was taken away by a lackluster jobs support, where were they the past three years when we've been pointing out this is a subpar economy. i will tell you this, carol. never in 20 years of repo
mr. obama became president, the unemployment rate would be 10%. if we had same percentage of people looking for work today looking when unemployment rate peaked at 10% the unemployment rate today would still be 9.7 using that household data. which means most effective employment program the obama administration has been able to come up with is persuade people to leave the labor force. mr. obama managed to drive down number of adults that want a job. that is a great way to drive unemployment down. i would think the other guest would consider that. melissa: gary, last word before we go. >> look the employment rate has risen in last few months. there is no doubt about that. i don't understand this labor force participants rate idea. yes the participation rate is lower when the economy was expanding strongly. yes, that's true but the fact of the matter is, employment has been rising over the last three years, period. it is just not rising fast enough to put a big a dent in unemployment rate as we would all like to see, period. melissa: gentlemen, great discussion. thanks for coming on.
is growth, where anybody who looks at getting down from obama's devastatingly high unemployment rate with 23 million americans out of work, if you get back to a normal unemployment rate you dramatically increase federal revenue. the second is you basically have a bargain which ronald reagan had, which is i will lower the rates and eliminate various deductions to get down to that rate. the governor himself last night said one of the business tax deductions might well be the oil and gas tax deduction which might well disappear as a part of a process of getting to lower rates. so we've seen it done before. it was done in '86 by ronald reagan in a bipartisan manner, and i think that you would see the governor, who has worked with a very democratic legislature in massachusetts, be bipartisan but let me give you one minor example of why i think it's sometimes frustrating to get into who's telling the truth. there are no definitions by which donald trump is a small business. >> wait, wait, wait. >> none. >> can i jump in here? >> well, there is. >> he took all the time last time. >> if you're a sau
, the unemployment rate now at 7.8% doesn't tell the whole story. at a rally a in virginia, a smiling president obama took full advantage of september's jobs report. >> more americans entered the work force, more people are getting jobs. >> reporter: the unemployment rate fell to 7.8%. marking the first time it's been below 8% during his presidency. >> today's excuse is not an excuse to talk down the economy to score a few political point. >> reporter: political points is exactly what mitt romney was going for while talking to voters in virginia. >> this president calls his policies going forward. i call his policies forewarned. >> reporter: romney said the unemployment rate fell because people gave up. >> when i'm president of the united states, that, that unemployment rate is going to come down, not because people are giving up and dropping out of the workforce, but because we're creating more jobs. >> reporter: on social media, some conservatives accuse the obama administration of doctoring the jobs numbers. former general electric ceo jack welch wrote "unbelievable job numbers. the chicago guys w
right now. >>> 7.8% unemployment. did president obama just win next month's election? jack welch says hold your horses on that 7.8% number. he doesn't really believe it. an influential florida congressman agrees. we'll talk to that congressman live and ask him on what he bases his suspicions. >>> a place in the united states where gasoline has now become hard for drivers to find. you will find out why coming up on "power lunch." >>> meantime, let's go to sue at the new york stock exchange. sue? >> the markets have been up all day long. we're up about 60 points or so on the dow jones industrial average and the big reason of course is the number that we got this morning, falling unemployment. we are now below the 8% level for the first time in four years. the question is how did we get there? here to explain all of that, our senior economics reporter steve leisman. steve? >> sue, thanks very much. sue, this number is a product of simple math. but whether it's telling us about the real strength of the job market is something investors and the fed are going to have to think long and hard
unemployment numbers dropping and -- for wednesday's debate. if for president obama, it was a much needed shot in the arm. >> this morning, we found out the unemployment rate fell to its lowest levelness is i took office. >> reporter: -- level since i took office. >> reporter: the president held up the new 7.8% unemployment rate as proof that his policies are working. >> and today's news is not an excuse to talk down the economy to score political points but a reminder the country has come too far to turn back now. >> reporter: across the state, mitt romney casts doubt on the numbers. >> the truth is if the same share of people were participating in the workforce today, on the day that the president got elected, our unemployment rate would be around 11% and that is the real reality of what is happening out there. >> reporter: the president's fairfax speech had been aimed at the women issues. >> and i don't think a working mom in arlington should wait to get a mammogram because money is tight. i don't think a college studentsho should have to choose between text books or the prevent
performance. here was president barack obama today. >> this morning we found out that the unemployment rate has fallen to its lowest level since i took office. (cheers) >> more americans entered the work force, more people are getting jobs. >> and here is governor romney's reaction to the same number. >> the reason it's come down this year is primarily due to the fact that more and more people have just stopped looking for work. and if you just drop out of the work force, if you just give up and say i can't go back to work, i'm going to stay home and drop out altogether, why, you're no longer part of the employment statistics, so looks like unemployment is getting better. but the truth is if the same share of people were participating in the work force today, as on the day the president got elected, our unemployment rate would be around 11%. >> the president clearly sees today's numbers good news for his campaign, but eric you've been digging into the numbers. can you help us dig a little deeper. what do the numbers say? >> there's something in here that i really, honestly in 25 years of d
. the unemployment rate is expected to inch up from 8.1%. the numbers are expected to underscore the slow economic recovery. >> increase in unemployment rate could add momentum to mitt romney's campaign to unseat president obama. he goes as far as saying he was completely wrong, his quote, when he commented to wealthy donors about the 47% of americans who don't pay federal income taxes. he told fox news his life has shown that he cares about 100% of americans. more in about 15 minutes. >>> this morning the woman charged with ditching her daughter after a botched shoplifting attempt is sitting in santa clara jail this is marcy keelin's mugshot. cameras were rolling when she stepped out of a list car in san jose yesterday after being extradited from nevada where she had been hiding. investigators say she sped off leaving her 10-year-old behind after workers at a safeway store in morgan hill spotted them stealing. she faces burglary and child endangerment charges. >>> is if expected to be over -- san francisco has several major events taking place, police will be patrolling all over they. they say yo
for months now is the unemployment rate is above 8% every month since obama took office. with that out the window, his new talking point is 114,000 new jobs created and labor participation. >> fewer new jobs created this month and last month. the unemployment rate as you noted this year has come down very veshgs slowly. the reason it came down this year is primarily due to the fact that more and more have just stopped looking for work. if you just drop out of the work force, if you give up and say, i can't go back to work. i'm going to stay home. if you drop out altogether, you're no longer part of the employment statistics. so it looks like employment is better, but if the same share of people were participating in the work force today is as on the day the president got elected the unemployment rate would be around 11%. >> peter, when romney was governor of massachusetts, the unemployment rate went down because a lot of people left the state. is he fair to make this point now? >> i think it is fair to say that the unemployment rate has come down simply over the course of this recovery
, the democrats and president obama needed good news. and remember the stimulus promise to keep unemployment below 8%, stimulus worked. okay. but i mean politically and psychologically the difference between 8.1 and 7.8 is significant. but i agree with david. i think to a greet degree, judy, the economy is already baked into people's political equation. a number, an insignificant number probably isn't going to change the political equation. >> what does it do though, david, to the romney sort of central argument at one point, of his campaign which was the president has failed on the economy. >> yeah, i don't really think it changed that. i mean we're gaining 114,000 jobs a year,-- i mean a month. you know, this time in many recoveries we're gaining 200,000300,000, times even 400,000. so if we are at a healthy recovery, then you know, then it would hurt his argument but we're not a haley economy. and it's still basically true, though only by a slimmer margin that 2012 has been worse than 2011. so he with still make that argument. and he'll continue to do so. >> i agree with david, generally. but i
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